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Benchmark Calls Guidance Software An "Attractive Takeout Candidate"
Monday, May 23, 2011 - 8:44am | 141According to Benchmark, Guidance Software (NASDAQ: GUID) is an attractive takeout candidate. Benchmark said that last week proved to be one of the more eventful weeks for the eDiscovery software market, yielding up two related (and significant) developments that reinforced our oft-stated view that...
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Longtop Financial Technologies Limited Announces Resignation of Independent Auditor and CFO
Monday, May 23, 2011 - 8:16am | 175Longtop Financial Technologies Limited (NYSE: LFT) announced today that the Company's registered independent accounting firm, Deloitte Touche Tohmatsu CPA Ltd. has resigned as auditor of the Company by letter dated May 22, 2011. The Company also announced that Derek Palaschuk, the Company's Chief...
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Merger Arbitrage Mondays – May 23, 2011
Monday, May 23, 2011 - 2:08am | 4780Merger activity increased last week with five new deals announced and seven closing. You can find all the active deals listed below in our Merger Arbitrage Tool that automatically updates itself during market hours. Deal Statistics: Total Number of Deals Closed in 2011 74 Total Number of Deals...
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Earnings Highlights for the Week Ahead
Sunday, May 22, 2011 - 11:19am | 793This week, quarterly results are due from Campbell Soup (NYSE: CPB) and Polo Ralph Lauren (NYSE: RL), which are expected to report that earnings are lower than they were a year ago. From AutoZone (NYSE: AZO), Big Lots (NYSE: BIG), DSW (NYSE: DSW), H.J. Heinz (NYSE: HNZ), Hormel Foods (NYSE: HRL),...
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Is Volatility Back? 05-20-2011
Friday, May 20, 2011 - 2:45pm | 937Cusick's Corner This is expiration trade -- move on the open and then slither into the close with most traders covering their trades early. The market looks to be prepared to stay in a tight range, 1330-1336 on the June S&Ps, but if the bulls can break resistance of 1336, the squeeze could be...
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Kenexa Jumping 14% On Secondary Offering
Friday, May 20, 2011 - 1:58pm | 170Kenexa Corp. (NASDAQ: KNXA) shares are jumping this afternoon, gaining $4.11 to $32.10, a gain of 14.6% after the company priced its secondary offering at $27.75. The company sold 3 million shares in the offering. The company said it expects to receive net proceeds of approximately $78.7 million...
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Salesforce.com Up Nearly 9% On Earnings Beat
Friday, May 20, 2011 - 12:30pm | 153Salesforce.com, inc. (NYSE: CRM) shares are rocketing higher today, trading at $147.54, up $11.73 or 8.64% after the company reported better than expected earnings last night after the bell. The company also raised full year guidance. The company said it expects to earn 29 to 30 cents per...
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Stifel Nicolaus Maintains Hold on Autodesk
Friday, May 20, 2011 - 9:35am | 93Stifel Nicolaus is out with its report today on Autodesk (NASDAQ: ADSK), maintaining Hold. In a note to clients, Stifel Nicolaus writes, "Autodesk is trading at 26.4x P/E on FY12 estimates (22.6x P/E ex cash). We believe that Autodesk has a long term opportunity to drive sustained license growth...
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Wedbush Raising Target On Salesforce.com
Friday, May 20, 2011 - 9:01am | 134According to Wedbush, Salesforce.com (NYSE: CRM) reported very strong FQ1 results with yr/yr billings growth of +44% (much higher than the whisper of ~30+%), which it calculates was ~+39% in constant currency. Wedbush said that with revenue and billings growth accelerating, and with several new...
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UPDATE: Citi Raises PT on Intuit to $63
Friday, May 20, 2011 - 8:42am | 121Citi is out with its report today on Intuit (NASDAQ: INTU), raising its PT from $61 to $63. In a note to clients, Citi writes, "We continue to recommend owning Intuit shares for the improving small business story. We believe both macro factors (employment, charge volumes) and company specific...
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Citigroup Raises PT On Intuit To $63
Friday, May 20, 2011 - 8:29am | 25Citigroup has raised the price target on Intuit (NASDAQ: INTU) from $61 to $63 and maintains its Buy rating.
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Wedbush Reiterates Outperform on Intuit
Friday, May 20, 2011 - 8:18am | 75Wedbush is out with its report today on Intuit (NASDAQ: INTU), reiterating Outperform. In a note to clients, Wedbush writes, "We expect continued outperformance for INTU on the strength of the company's Consumer Tax business as well as the acceleration in the Small Business segment." Wedbush...
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UPDATE: Goldman Sachs Raises PT on Autodesk to $52
Friday, May 20, 2011 - 8:15am | 89Goldman Sachs is out with its report today on Autodesk (NASDAQ: ADSK), raising its PT from $51 to $52. In a note to clients, Goldman Sachs writes, "We lift our non-GAAP FY12, FY13, and FY14 EPS (Jan.) estimates to $1.75, $2.20, and $2.65 from $1.72, $ 2.16, and $2.60 due to upside reported in 1Q,...
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Aruba Networks (ARUN) With Another Excellent Quarter
Friday, May 20, 2011 - 8:15am | 752Aruba Networks (ARUN) is a name I've been late to the game to, only becoming familiar with the company about 9 months ago, but it continues to impress. Last evening as all eyes were on Salesforce.com (CRM) earnings, Aruba posted a quite stellar earnings report. Revenue grew 53% year over year to...
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J.P. Morgan Reports on Intuit
Friday, May 20, 2011 - 8:06am | 146J.P. Morgan commented on Intuit (NASDAQ: INTU) in a report released earlier today. In the report, J.P. Morgan was positive in its assessment of the company. J.P. Morgan writes, "TurboTax and Payments drove upside in 3Q as Intuit capped off a solid finish to the tax season despite increased...